Bidding for Rolls-Royce
* (N.Z.P.A.-Reuter—Copyright) LONDON, May 2. Rolls-Royce Motors failed to attract any foreign buyers yesterday, when put up for sale to the highest bidder. • A condition of sale was that no foreign buyer would bte able to continue use of the name Rolls-Royce, nor even adopt any name that resembled it. This could /well have discouraged foreign interests from bidding. A number of British offers, however, were delivered to the London office of Rothschilds, the merchant bankers, officials of which declined to disclose how many bids had come in, or what offers had been made for the firm that makes the world’s most famous luxury limousines. The Government’s official receiver and Rothschilds will now consider whether the highest bid is acceptable, or whether more money might be raised by selling the company on the stock exchange. The motor division of Rolls-Royce parent company runs at a solid profit, and, according to market estimates, a successful bid would have to be well in excess of £3om.
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Bibliographic details
Press, Volume CXIII, Issue 33215, 3 May 1973, Page 21
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166Bidding for Rolls-Royce Press, Volume CXIII, Issue 33215, 3 May 1973, Page 21
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